Millions of millionaires

According to annual wealth report, the mainland China has 960,000 millionaires with personal wealth, close to a million of millionaires.

There is an increase of 9.7 percent compared to that of last year. The rising property prices and the skyrocketing GDP are the key drives for the growth. In 2009 there were 825,000 such millionaires while last year the number had grown to 875,000.

Among the millionaires, 55 percent of them make their money form private businesses and 20 percent derived the wealth from surfing the house price market. About 15 percent are stock savvy while the rest 10 percent are executives with high income.

No one is more excited that the luxury brand in China. China now ranks the first in luxury brands, either from the market share or the growing pace.

Beijing, with a number of 10,000 residents, took the first place in the country, followed by Guangdong province with 9,000 and Shanghai with 7,800. The reason for Beijing taking the lead laid in the fact that it is the political center.

The average age of the millionaires is 39 years old, 15 year old younger than the western millionaires. And thirty percent of them are female.

About Shuang An

Shuang An is a first year graduate in Public Relations at USC Anneberg School. She has a BA in Chinese Language and Literature. She is interested in management of new emerging media.
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